Median o/n interbank rate rises to 8.6125 pct
CAIRO: The median overnight interbank rate on the Egyptian pound rose to 8.6125 percent on Thursday from 8.55 percent on Wednesday after central bank auctions drained liquidity from the market,…
Orascom to eye acquisitions after IPO
ALGIERS: Orascom Telecom (OT) will eye more acquisitions including a bid for Greek firm TIM Hellas after the initial public offering of its Weather Investment later this year, its chairman…
Centurion Energy buys oil and gas sites
LONDON: Canadian-based Centurion Energy International Inc. said on Wednesday it had bought a private U.S. firm with oil and gas operations in Egypt and Texas for $225 million. Centurion, which…
Egypt offers to buy farm chickens due to bird flu
CAIRO: Egypt s government will buy all healthy chickens offered for sale by farmers until late March in a bid to support farms hard hit by the outbreak of bird…
Thirty-two held after sectarian clashes
CAIRO: Egypt s attorney general ordered 32 suspects remanded in custody Wednesday in connection with sectarian clashes south of Cairo that left eight people wounded. They included both Christians and…
Bird flu hits Egypt's multi-billion-dollar poultry industry
CAIRO: The sudden outbreak of avian influenza in Egypt has dealt a huge blow to the poultry industry, in a country which consumes 800 million birds a year and exports…
U.S. Middle East policy: Between Iraq and the hard guys
This week's visit to the region by Secretary of State Condoleezza Rice brings with it another reminder that U.S. Middle East policy is firmly wedged between Iraq and the hard…
Omar Effendi for sale
CAIRO: Minister of Investment Mahmoud Mohieddin announced last Monday that the employees of Omar Effendi, Egypt's largest state-owned department store chain, with more than 80 outlets, will retain their company…
Lebanon's BLOM eyes retail in its new Egypt market
CAIRO: Lebanese bank BLOM plans to double the number of branches at its newly acquired Egyptian operation to 16 in 2006, part of a plan to expand the retail business,…
Rice meets with democracy activists, adviser to top Islamic cleric
CAIRO: U.S. Secretary of State Condoleezza Rice met with democracy activists Wednesday as she continued a Mideast trip complicated by disagreements over the militant group Hamas. For the first time,…
